Movado Correlations

MOV Stock

USD 19.07 0.32 1.71%

The current 90-days correlation between Movado Group and MYT Netherlands Parent is -0.13 (i.e., Good diversification). The correlation of Movado is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Movado Correlation With Market

Weak diversification

The correlation between Movado Group and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Movado Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Movado Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Movado Stock

0.68	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.81	VMAR	Vision Marine Techno Fiscal Year End 25th of November 2024	Pair Corr

Moving against Movado Stock

0.62	VUZI	Vuzix Corp Cmn Buyout Trend	Pair Corr
0.53	RL	Ralph Lauren Corp	Pair Corr
0.5	DOGZ	Dogness International	Pair Corr
0.48	AS	Amer Sports, Upward Rally	Pair Corr
0.39	VNCE	Vince Holding Corp	Pair Corr
0.37	VEEE	Twin Vee Powercats	Pair Corr
0.37	VSTO	Vista Outdoor	Pair Corr
0.57	GIL	Gildan Activewear	Pair Corr
0.38	KTB	Kontoor Brands	Pair Corr
0.8	GIII	G III Apparel	Pair Corr
0.46	MSN	Emerson Radio	Pair Corr
0.38	NVR	NVR Inc	Pair Corr
0.37	WWW	Wolverine World Wide	Pair Corr

Related Correlations Analysis

	MYTE	ELA	TPR	CPRI	LANV	BRLT	REAL	SIG
MYTE		0.3	0.54	-0.26	-0.24	-0.66	0.54	0.55	MYTE
ELA	0.3		0.84	-0.54	-0.41	-0.25	0.86	0.52	ELA
TPR	0.54	0.84		-0.68	-0.31	-0.52	0.86	0.61	TPR
CPRI	-0.26	-0.54	-0.68		0.22	0.54	-0.47	-0.03	CPRI
LANV	-0.24	-0.41	-0.31	0.22		0.03	-0.44	-0.27	LANV
BRLT	-0.66	-0.25	-0.52	0.54	0.03		-0.26	-0.09	BRLT
REAL	0.54	0.86	0.86	-0.47	-0.44	-0.26		0.73	REAL
SIG	0.55	0.52	0.61	-0.03	-0.27	-0.09	0.73		SIG
	MYTE	ELA	TPR	CPRI	LANV	BRLT	REAL	SIG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

REAL	+ 0.86	ELA
REAL	+ 0.86	TPR
TPR	+ 0.84	ELA
SIG	+ 0.73	REAL
SIG	+ 0.61	TPR
SIG	+ 0.55	MYTE

High negative correlations

CPRI	- 0.68	TPR
BRLT	- 0.66	MYTE
CPRI	- 0.54	ELA
BRLT	- 0.52	TPR
REAL	- 0.47	CPRI
REAL	- 0.44	LANV

Risk-Adjusted Indicators

There is a big difference between Movado Stock performing well and Movado Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Movado's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MYTE	4.15	1.42	0.38	(1.34)	2.64	(5.67)	11.11	(5.59)	67.36
ELA	1.41	0.34	0.15	1.27	1.33	(1.81)	3.53	(2.86)	9.11
TPR	1.77	0.50	0.33	2.78	0.99	(2.44)	3.64	(2.00)	16.39
CPRI	2.57	(0.61)	0.00	(0.25)	0.00	0.00	7.01	(4.25)	56.42
LANV	4.24	0.32	0.03	(0.37)	5.26	(4.94)	11.18	(10.83)	26.86
BRLT	3.16	(0.39)	0.00	(0.21)	0.00	0.00	7.69	(5.85)	17.39
REAL	3.03	0.65	0.23	0.34	2.68	(3.67)	7.73	(4.46)	23.62
SIG	1.72	0.22	0.13	0.21	2.02	(2.03)	4.34	(3.42)	19.25

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